Underground Solutions acquires Process Solutions in $45M financing transaction

Sponsored by


POWAY, CA, July 23, 2014 -- Underground Solutions, Inc. (UGSI), a company specializing in water and wastewater infrastructure technologies, recently announced that it successfully closed a $45-million financing transaction with Riverwood Capital of Menlo Park, Calif.

The structured transaction provides for an initial investment of $30-million in UGSI's Series C preferred stock, with an option for an additional $15-million investment. The financing represents one of the largest private equity transactions in the water technology sector in recent years.

A portion of the transaction proceeds was used to acquire Process Solutions, Inc. (PSI), of Campbell, Calif. PSI developed and sells two water treatment technologies: MicrOclor™ on-site hypochlorite generation for disinfection; and Tank Shark™ for efficient mixing of water reservoirs.

In 2012, UGSI acquired the Wallace & Tiernan® chemical feed assets -- composed of the PolyBlend®, Encore® and Varea-meter® brands, among others -- from Siemens Industry, Inc. and managed the successful turnaround of that business in 2013. The combination of the Wallace & Tiernan chemical feed assets and PSI creates a water industry specialist in chemical metering and disinfection.

See also:

"Case Study: Texas city expands water treatment plant with disinfection system"


About Underground Solutions

Underground Solutions, Inc. (UGSI) a private company, is a provider of infrastructure technologies to the water, wastewater and energy industries. With one of the most experienced water industry management teams, a historical compounded annual growth rate of 30% and a solid balance sheet, UGSI, Inc. intends to remain in the top tier of water and energy infrastructure companies from a growth and profitability perspective. For more information, visit www.ugsicorp.com.

About Process Solutions

PSI, Inc. is a water industry specialist in disinfection and mixing process technologies based in Campbell, Calif. PSI now retains on a full-time basis of nine individuals who jointly possess over 300 years of combined experience selling, designing, manufacturing, installing, and servicing similar onsite hypochlorite generation equipment and tank mixing equipment. Together this team has been involved with the successful installation many hypochlorite generation systems and Tank Shark systems. For more information, visit www.4psi.net.

###

Sponsored by

TODAY'S HEADLINES

Research reveals dramatic growth of global hydropower expected this decade

Based on new statistics, an unprecedented boom in global hydropower dam construction is underway, primarily in developing countries and emerging economies.

DOD, NIH awards Cambrian prestigious contracts to further develop advanced biotechnologies

Cambrian Innovation recently won a prestigious contract from the Department of Defense and another two from the National Institutes of Health to further develop biotechnologies to dramatically improve water treatment, testing and remediation.

MWH Global promotes nearly a dozen employees to VP positions

MWH Global has officially announced the promotion of three employees to senior vice president and eight others to vice president. The promotions were confirmed by the MWH board of directors at its August board meeting.

Online Zeta Potential Measurement Provides Water Treatment Control, Cost Reduction

Online zeta potential measurements can provide real-time water quality monitoring and support effective process control under all circumstances. The value of online measurement is illustrated through the experiences of Aurora Water, which is using zeta potential at one facility as both an offline and online tool for monitoring and controlling water treatment processes.

FOLLOW US ON SOCIAL MEDIA